Research On Securities Legal System Of Self-regulation From The Visual Angle Of Minority Investor Protection

The core of securities market lies in the investor protection, which is also the legislation aim of the securities legal system. The number of the minority investor is numerous, involving the noodles widely, which is the main participant of the securities market in our country. The minority investor is hard to nicely support the rights of themselves because of the weak funds and the shortage of professional knowledge, etc. So emphasize to protect minority investor rights in the securities market, have the progressively meaning to the positive development of the stock market.The self-regulation in securities market means the participator in securities participant and management by themselves. Its legal base is Contract. It embodies the social benefit standard of economic law. We should build self-regulation legal system on equal, efficiency and scientific development idea. The legal sources of the self-regulation legal system are legal provisions, administrative authorizations and self-regulation rules. Study on the functions of the self-regulation legal system in the perspective of minority investor protection, which are protecting fair exchange, ensuring information disclosure, constructing good faith, educating the investors and managing the employee in securities business. Our country's current "Securities Law" has perfected the self-regulation institution in securities market to a certain extent, but still it is insufficient to exist. So need to perfect the self-regulation function of the stock exchange and the association of securities business, in order to give play to the role of containing by self-regulation better. In addition, on the foundation of self-regulation institution in our country, perfect the securities legal system of self-regulation further, in order to strengthen the self-regulation institution of the protection of minority investors. It can be independent through establishing the Association of Independent Trustee and investor's relation management organization, setting up the dispute resolution mechanism of minority investor's ,setting up sincere platform shared in the whole country.From the stock market was established in our country, on the one hand, the core of the law system with "Corporation law" and "Securities Law" gets perfect continuously, the law ruling level to the minority investor protective of increasingly strengthen; On the other hand the rights of the minority investor did not get the full respect and maintenance, the minority investor loss miserably heavy. This realistic predicament of the minority investor protection in our country mainly results in three reasons, such as a shortage of inborn ability on the defend rights of the minority investor, faintness of the legislation aim and current regulation system not perfect. Currently, the best choice is improving the legal system self-regulation.Perfect the protection of minority investors of the legal system of the self-regulation in securities market, need to perfecting the legal system of the self-regulation in securities market and set up such two respects as new mechanism, to set about on the basis of existing system from. The former refers to the perfection that the legal system of the self-regulation in securities market in stock exchange and association of securities business, the latter includes setting up the independent director's association, establishing the legal status of management organization of investor's relation, perfect securities self-disciplining organize dispute solve mechanism and security market sincere system.